Selling Stock to Finance Border Lockup

Three press releases yesterday from the Geo Group show which way the world drifts. First, the company secured a contract from Florida to manage an existing detention camp while it builds an expanded one. Second, the company announced plans to expand a Texas detention camp in Del Rio. And third, the company reported that sales of common stock would be used to pay for the Texas construction. Does this mean that Geo Group stockholders now have a vested interest in filling the borderland jails?
Get tomorrow’s headlines today at the Geo Group press room.

“My own feeling about private prisons is that the biggest issue with private prisons, for me, is that when you introduce that kind of private capital into this field, what private prisons do, either directly or indirectly, is mitigate toward more and more prisons, because what they’re interested in is market share. That’s what they do. This is a business. So the more prisoners they have, the more money they make.”–Michael Jacobson speaking on Democracy Now (June 13, 2006)